Olympus Stylus TG-4 is available, reconditioned, for $280 in red or black. That's over your price, but a good camera with GPS, a nice feature.

Otherwise, the little cameras from Olympus, Nikon, and Panasonic are good. I still have a nice little Panasonic Lumix. Love the GPS on it.

For those wanting a fancier camera body, they have the E-M1 for $720, a bargain. It's been replaced by a newer model, which will cost about $2,000, and should actually be widely available in a month or two, though I wonder. Their much-promoted 300 mm lens, a $2,400 marvel was in stock at B&H on Christmas day. Period. The thing must be hard to build.